Conventional Mortgage

A conventional loan is one of the most flexible and popular ways to finance a home in Wisconsin. It is not backed by a government agency, which means it comes with fewer restrictions and more room to make it your own.

Who This Loan Is For:

Conventional loans work well for a wide range of buyers. If you have steady income and solid credit, this program gives you the most freedom to shape your loan around your goals. It is a great fit for first time buyers ready to put down a modest amount, move up buyers financing a bigger home, and anyone purchasing a second home or an investment property.

Why Buyers Choose It:

Buyers gravitate toward conventional loans because of the flexibility. You are not locked into one set of rules the way you are with a government-backed loan, and you have more control over your down payment, your term length, and how quickly you can drop mortgage insurance.

THE PROS

  • Low Down Payments: you can put down as little as 3%, so you do not need years of saving to get started.

  • PMI That Goes Away: once you reach 20% equity, mortgage insurance cancels automatically, and you keep more of your payment each month after that.

  • Use It However You Like: conventional loans work for primary homes, second homes, and investment properties, giving you options some programs might not.

  • Choose Your Term: pick a 15, 20, or 30 year term, or go with an adjustable rate if a lower starting payment fits your plan better.

  • Strong in a Competitive Market: sellers and agents recognize conventional financing as dependable, which can strengthen your offer.

  • A Faster Path to Closing: appraisals and processing are often quicker than government backed programs, so you could be in your new home sooner.